For the Last 14 Months Greer Has Been a Junior

question 40

Multiple Choice

For the last 14 months Greer has been a junior partner in a Vancouver law firm. Until now he was receiving a monthly salary of $5000. Senior partners have just decided to stop all salaries because of a pending lawsuit against the firm. It was determined the firm would not make profits for at least the next eight months. Is the firm obliged to continue Greer's salary?

• A) No, since partners can only be paid out of profits.
• B) Yes, since salaries are an expense that comes off before profits are figured.
• C) Yes, since salaries are the first call on the firm's profits.
• D) No, since the firm cannot claim the doctrine of frustration.
• E) Yes, since Greer has a wife and kids that are dependant on the salary for basic living expenses.

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